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Originally Posted by kkingston57
A lot of un answered ?s. No mention of persons age and his current portfolio. Appears he is wealthy and looking to invest 1Mil in cash. Does the wealty part include the cash or is cash over and above the Wealthy. Stocks were at highs 3 weeks ago and have been declining past 3 weeks(600 points on 9/20).
Personally I am invested in preferred stocks which pay out 5-6% a year. My broker tells me that this enables him to sleep well at night.
Need to check his risk taking before committing.
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My friend and I are the same age, 79; 80 is fast approaching. He has no interest in actively trading or even managing a portfolio. While $1M is not the world to him it is not pocket change either. He wants to put it to work and not at great risk. He is a "Millionaire Next Door" kind of person. He (and I) still own and operate businesses and are reluctant to sell them. His father died at age 84 still running the same business which my friend many years ago inherited in part, buying out his siblings.